Stocks slide on unease over jump in bond yields as focus turns to US inflation

TOKYO - Asian stocks slumped on Wednesday as a sharp rise in U.S. bond yields unnerved investors ahead of key inflation data that could inform the pace of Federal Reserve policy easing.

Those same expectations had propelled U.S. stocks to record highs, but the rally stalled overnight as bond yields soared. Commodities were broadly weaker as traders worried about the outlook for key consumer China, which stands to bear the brunt of Trump's threatened trade tariffs. Stimulus announcements from Beijing so far have failed to stir much optimism over an economic revival.slid more than 1%, with a subindex of mainland Chinese property stocks slumping 2.5%. Chinese blue chips were slightly lower.and South Korea's Kospi sagged 1.8% and 2.

The dollar edged up to as high as 154.94 yen for the first time since July 30 before last changing hands at 154.88 yen. Technically, if the dollar were to break above 155 yen,"there's a blank space from 155 to 158, so the pair could rise quickly and test 158, where Japan's Ministry of Finance intervened in May," said Shoki Omori, chief Japan desk strategist at- which measures the currency against the yen, euro and four other top rivals - stood at 106.03, not far from Tuesday's high of 106.17, the strongest level since May 1.

The People's Bank of China pulled the yuan off a three-month low versus the dollar by setting a firmer-than-expected official guidance for the exchange rate, signalling growing discomfort over the currency's recent rapid decline.on the London Metal Exchange was down 0.1% at $9,130 per metric ton, and had dipped to $9,107 per ton on Tuesday, its lowest level since Sept. 11.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Best Penny stocks to buy right nowPenny stocks, occasionally referred to as “micro-cap” or “nano-cap” stocks are low-value stocks representing smaller companies traded on the stock market.
Source: FXStreetNews - 🏆 14. / 72 Read more »

European markets fall as mining stocks slide; Bayer shares at 20-year lows; Mediobanca down 8%European markets were lower Tuesday as investors assess what U.S. President-elect Donald Trump's return to the White House could mean for the region's economy.
Source: CNBC - 🏆 12. / 72 Read more »

Asian stocks slide as China stimulus disappoints; bitcoin extends record rallyAsian stocks slide as China stimulus disappoints; bitcoin extends record rally
Source: Investingcom - 🏆 450. / 53 Read more »

Foreign automaker stocks slide on Trump tariff fearsStock prices of foreign automakers fell sharply Wednesday amid concerns the U.S. will hike tariffs on imported vehicles under President-elect Donald Trump.
Source: nbcsandiego - 🏆 524. / 51 Read more »

Trump triumph fuels surge in US stocks and dollar, Treasuries slideTrump triumph fuels surge in US stocks and dollar, Treasuries slide
Source: Investingcom - 🏆 450. / 53 Read more »

4 High-Yield Dividend Stocks to Buy Now for Consistent Passive IncomeStocks Analysis by Investing.com (Ismael De La Cruz) covering: Kraft Heinz Co, iShares Global Energy ETF, Exelon Corporation, S&P Global Inc. Read Investing.com (Ismael De La Cruz)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »